Announcement

Collapse
No announcement yet.

Armenian Private Sector Avoids Long-Term Investment: Scientist Says

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Armenian Private Sector Avoids Long-Term Investment: Scientist Says

    ARMENIAN PRIVATE SECTOR AVOIDS LONG-TERM INVESTMENT: SCIENTIST SAYS

    YEREVAN, August 14. / ARKA /. Armenian private sector avoids long-term
    investment that will pay off in 10-15 years, so it will not invest
    in science, according to Arthur Iskhanian, a correspondent-member of
    the National Academy of Sciences.

    Speaking at a news conference today he said Armenia's private sector
    is unable to understand the need of long-term investment.

    "What they want is quick dealings: to sell something and get the
    money back in the same day, while investment in science may pay off
    only in 10-15 years ", he said.

    He recalled that by size of government funding to science - 0.25%
    of GDP- Armenia is on the lowest positions in the world. "There is
    no country that would release less money to science than Armenia",
    he argued.

    Mr. Ishkhanian disagreed with arguments that there is no money. "For
    example, subventions to Yerevan last year totaled about 7 billion
    drams, which is more than half of the funding of science.

    This amount is spent on road repairs and replacement of curbs. I
    believe that our country could survive a year without replaced curbs.

    Instead we could have several modern scientific institutions, which
    could bring billions of dollars in revenue, " he said. -0-

    - See more at:
    http://arka.am/en/news/economy/armenian_private_sector_avoids_long_term_investmen t_scientist_says/#sthash.bnDFhcLB.dpuf

Working...
X